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danger of going off the fiscal cliff. >> we are not going to kick the can down the road. we're going to finalize this this year. this is no time for delay. the american people want us to avoid the fiscal cliff with a balanced approach. liz: he said, he said. good afternoon, everybody. i am liz claman, "countdown to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can
with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
will hunker down, particularly are the whole fiscal cliff story hanging. even if it goes over, which i predict it will -- >> so do i. >> diana, what are you seeing? >> in the high ends where dolly works, of course it's going to have a big effect. let's keep this in perspective when we look at the housing recovery. homes price ed over $1 million were just 1.7% of sales in october. this is a minuscule amount when you look at the overall housing market and the recovery. that's why we're not seeing prices come down. also, remember the high end was hit the hardest in the housing crash. if you bought your home, your multimillion dollar home five, four, even three years aerks your price has probably come down so much that you're not really looking at any capital gains when you finally do sell this home. >> that's a really good point. it is a small portion of the overall real estate market. >> without a question. >> what are you expecting in terms of pricing? when will we see prices start coming down? >> well, we may see it come down in pockets. for example, the upper east side, there's a lot of devel
-quarters of 1% on this reorganization plan. markets are down and held hostage by talks on the fiscal cliff in washington. little changed but down, more declining stocks compared to a advancing stocks so the market is negative today. cheryl: thank you very much. dennis: 31 days left before we go over the fiscal cliff. the chief economist of the national federation of independent business is here with what your small-business ought to be doing now. thanks for being with us. the first question i have is what if i just decide can't take uncertainty and will do nothing now. what do you say to that? >> that is what we see our business owners doing, they are really unclear about where the economy is going to go and what the impact of the cliff is going to be nd we ask about their outlook of business conditions six months out, mid year next year, 14% said they thought would be better but 19% thought it would be worse than 22% of time 37 your record highs, who knows? no idea where it will go. the best thing to do is sit tight. dennis: what bothers small people most? the rating creases that preside
though if the market saw there was at least a down payment on the fiscal cliff, something agreed to be picked up after the first of the year, i think equity prices would be eleased. if we see more polarization leading into the end of the year without any sign of anything getting done, i think that would weigh on equity prices. tracy: talk about what we should be doing because i think we're all kind of the notion this will not happen until december 31st, what could we do before that? should i move maybe my dividend paying stocks into my retirement account? >> you can do that under subject of limitations how much you can put into a retirement account in any given year and predicated whether you work for employer or are self-employed. that is one avenue, if you will of sheltering those growth stocks from taxation at some later point. it isn't going to do much to help you this year, in order to do that you would have to sell them and move the cash into the tax sheltered vehicle. but that said, i think it is prudent anytime to consider where you have sizable capital gains, taking some
on on capitol hill over the fiscal cliff. treasury secretary timothy geithner sitting down with the top leaders in congress and in the senate, they are discussing what needs to be done to reduce the deficit and maybe how much flexibility there could be on either side. the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the admi
are worried about the fiscal cliff. silver will be under pressure and so will gold. look at gold today, down 17.30. even though a lot of markets weren't reacting to every headline in the fiscal cliff today i think the silver traders and the gold traders take a lot of profits. the other big market today, natural gas. warmer than normal temperatures and record u.s. production. let's go frackers, yahoo!. they're doing a great job job with that and bringing prices back down. right now natural gas prices hitting 3.57. down 6:00 cents. a good way to end the week. ashley: it is, phil. thank you so much. tracy: phil is a good way to end the week. stocks holding onto their gains of 2012. the s&p 500 is up nearly 13% but our next guest says it will not end that way. we have an institutional equity strategist with wells fargo security. you have a lower call on the s&p, don't you? >> i do. i think stocks might correct a touch from here. in my view we've been in a bit of a oversold bounce since early november. we got incredibly oversold in the two weeks since the election. there hasn't been earnings pres
to falling off the fiscal cliff this morning. while the major players are still not sitting down to talk, there's some good news believe it or not this morning. here is suzanne mcginnis. >> social security workers marched outside they're office in baltimore wednesday. they're protesting the governments cuts to kick in at the end of the year. sdmrsz -- >> we don't want to see our public hurt. >> just down the road in washington dc the stand off continues. house speaker john boehner said he's still waiting for president obama to make his next counter offer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't negotiate with ourselves. >> the president and boehner spoke on the phone wednesday. republicans want more. >> we want to sit down with the president. we want to talk specifics. >> whether the talks happen on the phone or in person here at capitol hill or at the white house there will be no deal without a compromise on taxes. >> i'm obsession to raise taxes is not going to solve the problem. >> timothy gitner said the white house is willing
the so-called fiscal cliff, but as the clock ticks down to mandatory spending cuts and tax hikes, negotiations to reach a deal look like they are at a standstill. and now, live to washington with the latest. steve? >> that deadline for action could be fast approaching but the two sides do not appear to be in a hurry, instead of negotiating a deal the players spent their unsunday in -- sundy taking their views to the public. speaker boehner appeared on fox news sunday expressing his surprise when geithner laid out the white house plan of action, calling for a new revenue and stimulus spending. >> i was flabbergasted. i have never seen anything like it. we have several weeks between election day and the end of the year and three of those weeks have been wasted with this nonsense. >> for his part, secretary geithner saying the ball is new in the g.o.p.'s court and he says the administration is ready to move forward if republicans agree to raise taxes on wealthy americans and specify their own demands for reducing government spending and he defended the plan that speaker boehner says
kicking exercise down the road would be better than the fiscal cliff? >> that's a tough one. the toothless can kicking exercise is hard. you've all helped make this a significantly watched issue. >> you want a pen? >> i'm happy to have a pen. >> you don't have yours on. >> i forgot. >> i've got mine prominently displayed. >> you forgot a couple days last week. >> we'll get you one. did we finally send them out? >> i saw some people got them. >>> when we come back, we'll have much more from our guest host today, greg fleming. but first, a new frontier of luxury. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >>> welcome back. everybody. the dow futures are up about 40 points this morning. s&p 500 are up by more than four and a half points. boeing says that u.s. regulators have ordered the entire fleet of 787 jets to be inspected for a possible fu
-day losing streak, will it hold onto the gains? talking guy fiscal cliff deal. lori: thank you for reminding me i was saying goodbye to charlie. groupon prices down 80% since going public. the very latest as the board of groupon meet. and look at the winners and losers on the s&p 500. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we undrstand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that qualy time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... nd become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality tim
. connell: sending the two-party over the fiscal cliff. a number of conservatives that say the president is getting offered too much. dagen: walt has his review. there are some things he says you need to know about. the u.s. economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion every year. stocks now and every 15 minutes. nicole petallides. nicole: we are looking at a market that is to the downside. let's take a look at citigroup. it is about 4% of the workforce. citigroup is higher. it has had an up arrow throughout the day today. we saw the dow jones industrials this week to the downside. we had two consecutive days in selling. down arrows for the nasdaq. down 1.1%. connell: breaking news out of washington. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly h
this year. you have to fiscal cliff coming up. you still have it issues in europe. so, you look at all these things, if you are an investor, you are saying, oh, my gosh, do i keep waiting, do i invest? volatility is here to stay. they need to be invested. lori: i always feel like there are so many things. jill politics to global economy. there are constantly influencing investors. you have to look at what is going on in china. for example, better economic news in asia. it is not, you cannot put blinders on anymore. >> that is exactly correct. what happens in the chinese economy or what happens in the european economy does affect what we need to o here. and how we need to invest. when you look around the world, you have 80% of investors who believe volatility is here to stay. now, the difficulty is you have 70%, three out of four americans who saved it do not have enough for environment. lori: should average investors follow the institutions? >> yeah, you know, one of the things we are seeing is a lot of institutions have held off or have looked at managing risk and mitigating in their
previously and not only the fiscal cliff but the susan rice. send her down there. send the cia down there. we are not moving and we are not going to let yougo get away with villinizing our administration a new obama going into the next 4iers. i am hoping we will see a lot more progressive reforms because of it. >> i hope you are right, too. we talked about this. something i want to get to at the top of the hour. obama has every reason right? to feel the power and exercise the power. every day -- i mean he won. okay? he won on november 6th, the popular vote the electoral vote overwhelmingly but i didn't realize there are still millions of votes still uncounted and every day, his margin keeps getting bigger and bigger and bigger. he is now a 51%, and romney is at 47%. there is something magic about the 47%. right? >> beautifully reviewed up. it's so good >> bill: the fact he ends up part of the 47%. obama, 51%. he beat romney by more than george bush beat john kerry in 2004. >> that's a solid, solid victory. he has a mandate. >> i think he definitely has
the hang seng gained 2%. wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are coming to netflix. they landed exclusive rights to stream disney movies before they air on cable networks. netflix will get some of disney's classic movies. no financial terms of the deal were released. and just in time for the holidays, starbucks is introducing a $454 gift card. the card is made of etched steel. comes with $400 on it. the reason why it's $450? it costs $50 just to make the card. there will be only 5,000 available and they will only be sold on the website gilt.com. the card comes with a gold level starbucks membership for $400 you can buy 57 cups of starbucks new
on optimism around the idea that we could reach some sort of a deal to overt the fiscal cliff. the dow closing more than 100 points higher after being down by more than that during the session. a swing like that hasn't happened since october 2011. u.s. equity futures at this hour actually higher. up by about 65 for the dow, s&p more than 7, and as joe mentioned, the fiscal cliff is still the focus. today treasury secretary tim geithner will be meeting with congressional leaders. first harry reid at about 10:00 and then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business
. amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it. we're just about done. are you listening, lawmakers and president obama? facebook.com/car facebook.com/carolcnn if you would like to continue the conversation. thanks for the responses. i appreciate t
down the days to christmas. mom and dad, to count down the days until the fiscal cliff until we fall off of it in 30-days. in legislative language they have two weeks to carve out a deal. republicans or democrats miles apart. >> two weeks because they take christmas off. congress does. >> starting the 149. -- 14th. >> they got canceled. >> congress never really shied away from vacation time. they get on planes and get out there. president obama is blaming the republicans for this stalled proposal right now. listen to the president. >> if congress does nothing eerie familiar -- every family will see income taxes go up at the beginning of next year. a typical middle class family of four will see income taxes rise by $2,200. it's unacceptable for some republicans in congress to hold middle class tax cuts in hostage because they refuse to let tax rates go up on the wealthiest americans. >> congressman ted o says he finds the president's suggestion to congress basically laughable, because the president, you will remember during the campaign the 800 billion number was thrown around for new
attention to the fiscal cliff. he made this as part of a nonpartson group because you can not be partisan and do gangam style. the can kicks back, they're urging young americans to help solve the nation's crisis. simpson was one half of the simpson bowles commission tasked with tackling the debt and deficit. >> gretchen: the reason he didn't kick the can was because he had a plan that you wouldn't have to kick the can. you would actually put our fiscal order better off. speaking of the fiscal cliff and social media and getting the message out to young people, we know what lawmakers are saying, but what about the taxpayers? ainsley earhart joins us with disheartening answers to say the least. >> some of these responses are pretty funny and yes, obviously not watching the news and keeping up with where their money is going. >> brian: they're not watching the 5:00 a.m show? >> they need to be. i don't know why they're not. maybe they will now. it's their money, it's their bank account. so of course, they know all about the fiscal cliff. right? well, not so much. i went to times square to fin
to the looming fiscal cliff, folks, one top republican says his party does not need to put a plan on the table. is that right? oklahoma congressman tom colatosti with his take on this next. >> this is unsustainable. we have 10,000 baby boomers like me retiring every day. 70,000 this week. 3.5 million retirees this year alone signing up for social security and medicare. people living longer, accessing medicaid. it is not like there is any money in the social security trust fund or medicare trust fund. it has all been spent. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could
's extend the fiscal cliff for six months and then get serious. nobody seems to want to do that. everybody wants at least a down payment, at least an agreement on the outlines of a tax program and a program on spending and then maybe they would give it more time to finish. >> we're still kicking the can down the road. you're absolutely right. you're going to get a short. term, let's get through the first quarter of 2013-type solution. but the reality of dealing with this economy, its debt, it's deficit, spending priorities and all of that is not going to get done in the next five weeks. so let's be honest about that. i agree with you. i think that they're going to come to a short-term stopgap solution that deals with the cliff, that deals with the bush tax cuts that expire, that deal with the increase in unemployment rate that's due to hit in january. they'll deal with those short-term things, but the long-term systemic substantive points that need to be addressed will not get addressed in the next four weeks. >> steve, how would you markets respond if they decide we'll have a short-term f
and negotiators sort of sit down and workout some of the road bumps here to avert the fiscal cliff. and they don't see campaign rallies, or campaign maneuvers as the way to do that. that being said i think the white house has set out its course here. i think you'll see something a lot different in the fiscal cliff negotiations from the white house than you saw in say the government shut down negotiations a year ago. you are going to see a much more campaigning, much more campaign-like president obama in the next month. jon: you know, some sort of even partial -- neutral observers are saying that the obama campaign won in part because they did a much better job of harnessing the power of social media in this election and driving their voters to the polls. if that succeeded for them in the election, can they do it when it comes to governing? can they make the country, you know, embrace tax increases, for instance. >> yeah it's a huge question. i think there are folks who think that it can work the same way. there are a lot of others who really question whether or not those sorts of tactics, and, y
officials trading insults, playing the blame game here as the clock is winding down on the fiscal cliff. keep in mind time is a-wasting. in 32 days now tax rates soar, spending gets slashed. oh, and don't forget, congress, yeah, they get to take a break for the holidays in 14 days. a recipe for recession. the president is pitching a plan that calls for $1.6 trillion in tax heights and $50 billion in new infrastructure spending. he'll head to a manufacturing plant in pennsylvania to push all this. republicans aren't buying in. listen to house speaker john boehner's reaction. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> didn't take very long for democrats to hit back at speaker boehner. senate majority leader harry reid got up, a little personal. >> i don't understand his brain, so you should ask him. >> i don't understand his brain. let's go to washington this morning. wow, just when we thought they were getting closer seems like they're even farther apart this morning. >> yeah, you know, the nic
to go over the fiscal cliff. that's crazy for our country. let's get these as i said extend the tax cuts for those under $250,000. let's agree on a down payment. let's get not only the predictability on the tax code for 98% of americans but also get the automatic across the board cuts off the table for next year. then allow our committees to go to work to bring in the additional savings that we need. i think we can get that blueprint done in the next couple of weeks. >> do you believe that, sir? because have you talked to your republican colleagues in the senate? i mean, do they have a point at which they believe is their we can't pass we cannot cross this line? do you think you're able to meet at least in the senate? >> i think so. i really do believe that the majority of the members of the senate want to get this done, want to get it done now. they want to get predictability to the 98% of taxpayers on their tax rates come january 1st. they want to get these across the board sequestration cuts off the table. they want to make a down payment on the debt. they believe we can get it done.
get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not face to face. house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want to put it. we could, of course, face massive tax hikes, spending cuts. that's what the fiscal cliff is all about
're worried about what happens if we go over the fiscal cliff. play out the scenario for how things would go down if we actually do move past january 1 without an agreement. >> if you get lots of economist projections, you'll see the general view is the economy would have negative growth or a couple percentage points, whatever it is. near term recession impact. and that nt would be good to the economy because it's been moving its way out. what's really after people is will we be serious about fixing the long term problems of america's fiscal situation. basically having more revenue and less expenses so we can get the thing more if line. and that's pre-occupying people because they're worried about the longer term issue. if this doesn't move forward with a solution that actually starts to layout the ground work for the long term issues, it could be potentially disappointing. >> ceos say they have to lay out their plans for what they're planning on doing in january and they have to move forward with the plan that has an assumption that we don't get some sort of a solution. do you hear that fro
, 2012. i'm gretchen carlson. count down to the edge. 29 days from the fiscal cliff and this is what republicans say about the white house's latest offer. >> flabbergasted. he can't be serious. >> gretchen: but treasury secretary tim geithner says republicans need to make the next move. he's straight ahead. >> gretchen: nfl player murders his girlfriend, kills himself. so what does bob costa say during half time? call for a moment of silence perhaps? no, he pushes for gun control. is that really appropriate? >> steve: that's what he did. sibling rivalry starts in the womb and, ladies and gentlemen there, is proof. the sonogram. that's the first round. twins fighting? can you believe it? that's okay. "fox & friends" hour two for monday starts right now. >> brian: can i lean over now? >> steve: yeah, go ahead. >> steve: that is an extraordinary picture. >> gretchen: it is extraordinary because could it be that the twins in the womb are going no, you move over! i want more food out of that umbilical colored. >> brian: the one thing about that uterus, it's tight in will. >> gretchen: i'm
. the hour you doing? -- how are you doing? i have been watching about the fiscal cliff for the last couple months or so. my problem is they're talking about cutting revenue and entitlements. when it came down to entitlements in the first place, i paid into social security for 30 years. i paid my money. it does not make any sense for you to cut my salary which is almost lower than $16,000 a year. i used to make $38,000. now down to $16,000 and i have to give up more? i do not think that is right. if they just do one thing, all the congressional people, all of the senate people and the people in washington, d.c., give back $10,000 from themselves. 2%. i think they can come up with almost a billion dollars right there. host: ted, what do you think? caller: good morning. i believe that several of the callers today saying that the government should be run like a household. [indiscernible] they need to be able to do that to keep the economy going. programs like medicare, why they are paid into by people throughout their lives, they need to have oversight in order to keep them leaner. i work with
for an older, wiser, business leader. but first -- >>> still to come with the fiscal cliff getting closer -- >> if i were involved in a negotiation like this and everybody was purporting to be where they are, i would say that an agreement was reachable. >> we will help you rise above the rhetoric. former federal reserve vice chair alice rivlin, all that and much more on "squawk on the street." wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. serves as director of the national budget. recently served as a mechanical of the simpson bowles commission. you look lovely as always. i'm told you're wearing a rather important pin. >> yes, i have on the pin. i'm in favor of rising above all this part san ship and getting deal done. >> you think that's possible, but you're not sure what that can happen by
spending in washington and finally address the problem. >> as we continue to try to solve the fiscal cliff, the thing week of always continued to look at is our economy. wanting it to continue to grow. today in the whip's office we'll have small family-owned businesses in there talking about ways that we can protect the family business, continue to grow, while at the same time make sure we solve this fiscal cliff. look, each and every day, as we walk the halls, you continue to ask questions. you want the answers solving the fiscal cliff. we put an answer on the table. the president now has to engage. i think the next 72 hours are critical. if he sits back and continues to play politics, that will give you an answer of where we're going. this is an opportunity for this country to lead. this is an opportunity for the president to lead. >> at these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem. it has a spending problem. and under this administration, under president obama, we have seen record deficits and a r
the road. not that far down the road but get into 2013, get the fiscal cliff thing behind us. why? >> i think tom coburn and the president have slightly different reasons for it. but the problem with just doing tax reform when you don't have the rates going back up is that these deductions and credits that we're going to have to go after to reform, they primarily benefit people at the top. but they also benefit middle-class families. and if you just change those then what you end up doing is raising taxes on middle-class families as well. to get the same amount of revenue. in other words, if you're trying to get a revenue target, let's say $1.6 trillion which is what the president wants. you try to do that just by reforming the code, without the rates. you don't touch the rates. the only way to do it is to get the money out of the middle class. the president doesn't want to do that and most people don't want to do that. but if you let the rates go back up, you're basically halfway to your revenue target and you can
after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we
're down just $4 this friday morning and as you know, there's a fight on capitol hill all about this fiscal cliff and the media is, as always, in the democrat's corner. that will be my opinion. and mark is next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. >> and we welcome a great guest to "varney & company," he's from the media research center. all right, bret. i want to show you three headlines ripped from the news this morning. first off, the headline in the new york times reads g.o.p. balks at white house plan on fiscal cliff. and second, huffington post this mork, surprise, g.o.p. outrage by offer they received weeks ago and from nbc news, the g.o.p. says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setti
worse than going over this ledge. we went off the fiscal cliff when the president got reelected so now we are just bouncing down further and further ledge to ledge. but the thing is for him to say we're going to increase spending let me give away more money, are you kidding? have you gotten more solyndras you haven't thrown away? enough is enough. the leverage we have is the debt ceiling. i'm hoping our leadership is going to bring that to bear. >> many feel the leverage the president has he says look i want to cut taxes or keep taxes where they are for those making $250,000 or less. i want middle class taxes to stay low. but the republics, they won't let that happen. he comes forward with a 1.6 trillion though in new taxes in this new deal. what do you think of that deal and where are you willing to compromise in terms of revenues? >> well, the president we had two years ago basically said and i'm not sure who this one is but the one a couple years ago said it would be insane to raise taxes during a recession. we are still in the recession. we are still 8% basically in on unemployment
cliff if the markets are going ballistic. it would settle down after a while. host: what is the likelihood we will see changes? guest: they will not necessarily occur at the beginning of congress. there is a good chance that they will step back and do a compromise that involved both parties. for your time. >> robert van order looks at the mortgage debt release act then bradford fitch discusses orientation sessions for senior aides of member and members alike in congress. after that, the artistic self advocacy network on been an autistic adults. -- being an autistic adult. "washington journal" live saturday. president obama called on congress to pass an extension of tax cuts for the middle class, while allowing tax rates to increase for people making more than $250,000 a year. later in the day, house speaker john boehner responded to the presidents comments. you can see both of them starting at 8:00 p.m. eastern here on c-span. next, a look at the fiscal health of the federal housing administration. according to a recent audit, the government agency is more than $16 billio
not want to do. >> as we continue to move to solve the fiscal cliff problem, one thing we want to look at is make sure small business is ok. i had my first business when i was 19 years old -- a sandwich shop. listen to small businesses, look across there, they are the engine that makes the economy grow. today we will meet with individuals in the business community. next week, a small business coalition will talk to us on ways we can solve the fiscal cliff while the same time growing this economy. the goal of this republican majority is to solve the fiscal cliff once and for all and put us on a path to grow the economy. >> we are 34 days away from what would be the largest tax increase in american history, and the speaker boehner and the republicans have put forward a balanced plan that would prevent that from happening and not devastate our economy at a time when our economy continues to struggle and people are having a tough time finding work. we need to take action that will insure that small-business owners all across this country continue to be able to survive. many have said that
medicarecomplete. martha: taking the fiscal cliff fight on the road now, president obama going to the public with his message today as the clock ticks down on what some lawmakers are calling a potential economic disaster. that is how we start a brand new hour on that sunny thought on a friday morning in "america's newsroom." good to have you here. i'm martha maccallum. bill: i'm bill hemmer. are you doing okay? martha: i'm doing great. bill: second hour here. president obama putting the heat on republicans supporting plan to allow taxes to rise on higher income earners. after days and weeks of meetings with no progress, republicans say he is not meeting them halfway. warning now we're in more danger of that fiscal cliff. melissa: i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. i'm here, seriously trying to resolve it and i would hope the white house would get serious as well. melissa: the president has made clear from the start that he understands that he will not get every item in this proposal or in his budget proposal that
would be so irresponsible as to threat on take the american people off this fiscal cliff. plunge us back into recession and put a lot of people out of work. so this is very disappointing. and i wish we weren't where we are, but it takes two parties to negotiate in good faith and frankly the president has been awol. megyn: do you believe the president want to go off the fiscal cliff? >> by judging from his behavior, i'm beginning to believe he does. and that i think would be a profoundy irresponsible act. economists of all stripes have told us we'll be plunged into a recession. we don't know in light of this fragile economy whether it would be a small dip or whether it would spiral out of control. so it's just something we should not be toying with. that's why it's so discouraging to see the president and secretary geithner increase their demand and not come closer together given the fact our side has put revenue on the table, something we don't want to do. we know we don't have just a taxing problem, we have a spending problem and we see no commensurate action from the president or his p
be at risk if we go over the fiscal cliff. i can tell you that all of the defense contractors very nervous about what they're seeing in washington right now. >> put down the cell phone and the breakfast brooit burrito. huron, south dakota has approved one of the toughest bans on distracted driving in the country that includes, listen to this, a ban on eating while you are driving. if anyone is caught texting and driving, they will be fined $100. you can get a ticket if you're eating lunch, reading the paper or putting on your make-up in the mirror. i'm in trouble. make-up and eating. >> head to our blog, cnn.com/early start for the top stories. we're right back. with the spark cash card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the spark busi
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